Coca-Cola's Dynamic Marketing Strategy
Coca-Cola bases its marketing strategies on the four Ps. As a result, they have developed specialized tactics that will enable them to produce enormous sales. The Coca-Cola business had a US $84 billion market valuation as of 2020.
1. A Distinguished Difference
It's an intriguing tale how the beverage Coca-Cola came to be. John Pemberton was the man who initiated the entire production process. He and his nephew Lewis Newman developed the formula that yields the sweet, characteristic Coca-Cola flavor after much research.
Furthermore, rivals have found it challenging to replicate the precise flavor of Coca-Cola thus far.In a vault in Atlanta lies the original recipe used to make Coca-Cola.
2. Product & Brand Image
If a product doesn't stand out from the crowd of comparable ones, it can easily be overlooked. Coca-Cola was aware of this. For this reason, they have made investments to ensure that Coca-Cola's packaging is plainly visible at all times and locations.
The logo design is the first thing that grabs customers' attention. The Coca-Cola name is displayed in this design using a Spencerian font. The main logo has not altered over time, despite changes in design.
When Coca-Cola initially started to be produced, it was written in an uninspired manner. Frank Robinson, John Pemberton's bookkeeper, was the one who altered the Coca-Cola font. And for years, this font hasn't altered.
People all throughout the world have unintentionally become familiar with the look due to the writing style's regularity.
3. Elevated Expectations, 2°C
Coca-Cola established the custom of dealers being in charge of upholding the product's standard in 1919. Retailers are advised by the firm to serve Coke at 2°C.
Salespeople were dispatched by the corporation to inform retailers of this information.Even while it might not be feasible in the modern day, it was still a smart marketing move. It made sure that buyers would never purchase subpar goods.
4. Price
It is customary for fledgling businesses to offer their products and services for practically nothing. These businesses then gradually raise the price after the general public becomes addicted to their goods. Coca-Cola used a similar strategy. From the moment of manufacture, Coca-Cola's price stayed constant for 70 years (1886–1959). It only cost five cents. Because of this, Coca-Cola had ample opportunity to expand beyond the United States to several other nations. This tactic worked incredibly well to promote the product's acceptability.
5. Advertising- Slogans & Market Saturation
Coca-Cola has long had a strong interest in marketing. Coca-Cola invests around $4 billion in global advertising to promote its name and goods.
Coca-Cola used to raise awareness by manufacturing watches and beach balls, two entirely unrelated products. To raise exposure, Coca-Cola was among the first firms to attach its name to unrelated things.
Coca-Cola is unrelenting in its pursuit of advertising. It is improbable that you will miss a significant international event that Coca-Cola is not sponsoring. Moreover, Coca-Cola has consistently promoted its products with a variety of slogans. Some examples of these slogans are "taste the feeling," "open happiness," and "what you want is Coke."
These catchphrases gained popularity and helped spread awareness of the Coca-Cola brand.
6. Evolving Market Evolving Products
Coca-Cola's willingness to broaden its target market accounts for its success. This led to the development of Sprite and Fanta as well as sugar-free Diet Coke and Coke Zero. This demonstrates the Coca-Cola company's ongoing efforts to ensure that a product is available to satisfy every segment of the market. The marketing of Coca-Cola's goods has improved thanks in part to this technique.
1. A Distinguished Difference
It's an intriguing tale how the beverage Coca-Cola came to be. John Pemberton was the man who initiated the entire production process. He and his nephew Lewis Newman developed the formula that yields the sweet, characteristic Coca-Cola flavor after much research.
Furthermore, rivals have found it challenging to replicate the precise flavor of Coca-Cola thus far.In a vault in Atlanta lies the original recipe used to make Coca-Cola.
2. Product & Brand Image
If a product doesn't stand out from the crowd of comparable ones, it can easily be overlooked. Coca-Cola was aware of this. For this reason, they have made investments to ensure that Coca-Cola's packaging is plainly visible at all times and locations.
The logo design is the first thing that grabs customers' attention. The Coca-Cola name is displayed in this design using a Spencerian font. The main logo has not altered over time, despite changes in design.
When Coca-Cola initially started to be produced, it was written in an uninspired manner. Frank Robinson, John Pemberton's bookkeeper, was the one who altered the Coca-Cola font. And for years, this font hasn't altered.
People all throughout the world have unintentionally become familiar with the look due to the writing style's regularity.
3. Elevated Expectations, 2°C
Coca-Cola established the custom of dealers being in charge of upholding the product's standard in 1919. Retailers are advised by the firm to serve Coke at 2°C.
Salespeople were dispatched by the corporation to inform retailers of this information.Even while it might not be feasible in the modern day, it was still a smart marketing move. It made sure that buyers would never purchase subpar goods.
4. Price
It is customary for fledgling businesses to offer their products and services for practically nothing. These businesses then gradually raise the price after the general public becomes addicted to their goods. Coca-Cola used a similar strategy. From the moment of manufacture, Coca-Cola's price stayed constant for 70 years (1886–1959). It only cost five cents. Because of this, Coca-Cola had ample opportunity to expand beyond the United States to several other nations. This tactic worked incredibly well to promote the product's acceptability.
5. Advertising- Slogans & Market Saturation
Coca-Cola has long had a strong interest in marketing. Coca-Cola invests around $4 billion in global advertising to promote its name and goods.
Coca-Cola used to raise awareness by manufacturing watches and beach balls, two entirely unrelated products. To raise exposure, Coca-Cola was among the first firms to attach its name to unrelated things.
Coca-Cola is unrelenting in its pursuit of advertising. It is improbable that you will miss a significant international event that Coca-Cola is not sponsoring. Moreover, Coca-Cola has consistently promoted its products with a variety of slogans. Some examples of these slogans are "taste the feeling," "open happiness," and "what you want is Coke."
These catchphrases gained popularity and helped spread awareness of the Coca-Cola brand.
6. Evolving Market Evolving Products
Coca-Cola's willingness to broaden its target market accounts for its success. This led to the development of Sprite and Fanta as well as sugar-free Diet Coke and Coke Zero. This demonstrates the Coca-Cola company's ongoing efforts to ensure that a product is available to satisfy every segment of the market. The marketing of Coca-Cola's goods has improved thanks in part to this technique.
